Ghana’s largest local beverage manufacturer, Kasapreko, has so far lost about $2 million in revenue to the closure of the Nigerian-Benin Border, the Head of International Business Development for the company has said.
According to Francis Holly Adzah, even though the beverage firm “managed to send in three trucks of products to the Nigerian market moments before the border was closed,” four other trucks loaded with products – one at the border and the others at the premises of the manufacturing company – have been left grounded.
“In September, we lost $1 million to the closure. October is almost ended and our checks show a loss of another million dollars. The situation is getting out of hand and very serious,” Mr Holly Adzah told JoyBusiness in an exclusive interview.
Checks by JoyBusiness also show the beverage firm has exhausted all its products in the Nigerian market – a critical situation which has seen them being overtaken by competitors.
Meanwhile, Kasapreko says it is venturing into other ready markets apart from Nigeria to make up for the losses.
According to Mr Holly Adzah, the company is looking at entering Ivory Coast, Senegal, Togo, Benin and other European markets.
Ghana’s exports to Nigeria was $80.96 million in 2018, according to the United Nations COMTRADE database on international trade.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Prioritise upgrade of Paga/Navrongo Airstrip into regional airport – Paga Youth Movement to Mahama
12 minutes -
TAGG rebukes “New Voter Forum” over misleading claims on port operations
18 minutes -
Supreme Court judges removal legislation will define “misbehaviour” and “incompetence” – Mahama Ayariga
36 minutes -
A radio station declined to play my song because it was in Ewe – Keeny Ice
37 minutes -
Terkper advocates debt repayment framework as Ghana eyes capital market re-entry
38 minutes -
Tidy up your act and provide clarity on 24-hour economy – Oppong Nkrumah to government
51 minutes -
Speculating against the cedi will be irresponsible – Oppong Nkrumah
1 hour -
Reduced public spending the reason for cedi’s recent strength – APL argues
2 hours -
The music industry has not been fair to me — Keeny Ice
2 hours -
Johnnie Walker launches new whisky variant in Ghana
2 hours -
Debt restructuring: We are making progress with all remaining creditors – Government
2 hours -
2025 Unity Cup: I would have loved to play Jamaica in final – Thomas-Asante
2 hours -
2025 Unity Cup: Ghana lacked aggression against ‘matured’ Nigerian team- Otto Addo
2 hours -
Finance Minister appointed Returning Officer for AfDB presidential elections
2 hours -
What does Your Name represent? The power behind your identity
2 hours